Family Office Feasibility Study

High Net Worth Families often consider establishing a Family Office to perform a variety of services for the family. These include investment management, personal tax planning and tax preparation, bookkeeping, management of vacation real estate, concierge services. Family Office services are offered by a number of financial management entities as an “add-on” to their regular services, most often for an additional fee.

The Beringer Group has substantial experience with high net worth families, both those whose wealth is derived from ownership or the sale of a family business. While these families have heard of the Family Office, they often don’t know or understand what they need in terms of services to the family; nor do they know whether they are better off creating their own family office and expending the funds to set it up and maintain it, or contracting out the services they need.

By performing a feasibility study, we have worked with families and the multiple generations within a family to understand what their needs are, what services are available to them from “outside contractors”, what the costs are of bringing some or all services in house, and how to staff a family office. We provide unbiased recommendations and advice and reconcile expectations with reality.